$3 Bln World Bank Loan Guarantees for Ukraine From the UK

by Meifan Honcharuk
Wednesday, June 21, 2023
$3 Bln World Bank Loan Guarantees for Ukraine From the UK

Plus £240 mln of bilateral assistance, £250 mln to British International Investment in Ukraine

On June 21, the UK government announced the provision of urgent economic aid to Ukraine, loan guarantees, and an increase in the budget of the British International Investment in Ukraine aid fund.

As part of the Ukraine Recovery conference, Rishi Sunak announced the provision of a guarantee of $3 billion to unlock World Bank crediting. The guarantees will be valid for 3 years. This is significant assistance that will be directed to the direct budgetary needs of Ukraine: payment of salaries and pensions, support for the functioning of medical and educational institutions, etc. Ukraine can also count on £240 million of bilateral assistance.

"As we've seen in Bakhmut and Mariupol, what Russia cannot take it will seek to destroy. They want to do the same to Ukraine's economy," Rishi Sunak. 

"So, together with our allies we will maintain our support for Ukraine's defence and for the counter offensive, and we'll stand with Ukraine for as long as it takes as they continue to win this war."

In addition, the budget of British International Investment for Ukraine will increase to £250 million.

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